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SPX, Gold, Oil And G6 Targets For The Week Of January 14

USDJPY traded flat, dancing above/below the weekly pivot line. The flash crash of January 3rd seems to have stopped the downtrend in place since mid-December ’18, but the USD needs to break above 109 against the YEN to signal a bullish change in trend.

Current signals: Daily Flat, Weekly Short.

The projected trading range for USDJPY for next week is 107 – 110:

EURUSD had a strong first half of the week when it managed to break above the upper weekly target at 1.15, but that proved to be short-lived as the EUR pulled back below that level on Thursday and Friday. Key resistance at 1.15 and support at the target angle are the major technical levels to watch for going forward.

The projected trading range for EURUSD for next week is 1.14 – 1.16:

GBPUSD traded flat most of the week but then managed to reach the upper weekly target on Friday. The daily and weekly uptrend remains in place.

Current signals: Daily Long, Weekly Long.

The projected trading range for GBPUSD for next week is 1.263 – 1.295:

USDCAD remained on a downward trajectory for most of the week until it found support and double bottomed at 1.318. It needs to break above 1.33, however, to signal that a bullish reversal is in place.

Current signals: Daily Flat, Weekly Short.

The projected trading range for USDCAD for next week is 1.31 – 1.34:

AUDUSD continues to be on a tear following the January 3rd flash crash and finished the week on the upper weekly target. There’s a heavy resistance band above between 0.735 and 0.745.

Current signals: Daily Long, Weekly Long.

The projected trading range for AUDUSD for next week is 0.708 – 0.73:

*Please note that the signals are in effect as of the close on Friday and may change as soon as the markets re-open.

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